Registered: 1397055515 Posts: 3
Just wondering whether I have to register for VAT if I am planning on selling "stuff"?
At the moment I'm not registered as not generating enough income, but am thinking of importing some kit and then reselling these items, and wondered whether I had to pay VAT on the sales? __________________ http://www.learn2fence.co.uk
Registered: 1405516653 Posts: 4
No expert here however I believe you need to turnover in excess of £81,000 during a 12 month period. But you can volunteer if you are below the threshold or if you import (EU/UK) over £81,000.
__________________ Jason Thomas Photography
Web: http://www.jasonthomasphotography.biz FB: https://www.facebook.com/Jasonthomasphotography.biz
Registered: 1396514796 Posts: 31
£81,000 is the amount of sales a company or sole trader can make annually in the UK before they are required to register for VAT and UK VAT is then charged at 20% on taxable goods or supplies.
You can register for VAT if you believe you will reach or surpass the target figure.
Stewart McLean, Business Advisor Mobile: 07412 993719